PG bearish scenario:PG bearish scenario:
We have technical figure Triangle in US company The Procter & Gamble Company (PG) at daily chart. The Procter & Gamble Company is an American multinational consumer goods corporation. It specializes in a wide range of personal health/consumer health, and personal care and hygiene products; these products are organized into several segments including Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine, & Family Care. The Triangle has broken through the support line at 20/11/2020, if the price holds below this level we can have possible bearish price movement with forecast for the next 5 days towards 136.19 USD. Our stop loss order should be placed at 144.78 USD if we decide to enter this position.
Fundamentals:
- Procter & Gamble Co raised its annual sales and earnings forecasts on Tuesday, as coronavirus-driven home cleaning pushed sales of the consumer goods giant’s home care products as much as 30% higher.
- P&G also expects full-year core earnings per share to be up 5% to 8%, compared with 3% to 7% earlier, and said it would aim to buy back $7 billion to $9 billion in shares in fiscal 2021.
